Stock Market Today: Live Updates & News
- Wall Street started June on a positive note Monday, overcoming concerns about escalating global trade disputes.
- allegations of breaching a temporary trade accord, blaming Washington for non-compliance.
- jay Woods, chief global strategist at Freedom Capital Markets, believes a Trump-Xi conversation could provide needed clarity.
navigate the latest stock market shifts: The S&P 500 rose, even as trade tensions simmered, while the Dow held steady. Steel stocks surged,reflecting the impact of new tariffs,a primarykeyword. China disputes U.S. trade agreement claims,further fueling secondarykeyword concerns. Freedom Capital Markets sees a Trump-Xi call as pivotal for market direction. This is a developing story from News Directory 3. Explore how these global dynamics are reshaping your investments. Discover what’s next …
Stock Market Rises Despite Trade Tensions
Wall Street started June on a positive note Monday, overcoming concerns about escalating global trade disputes. The S&P 500 gained 0.3% adn the Nasdaq Composite advanced 0.6%.The Dow Jones Industrial Average, however, remained nearly unchanged.
Trade tensions flared as China refuted U.S. allegations of breaching a temporary trade accord, blaming Washington for non-compliance. This progress suggests a worsening relationship between the world’s two largest economies. The renewed friction follows a brief period of eased tensions after Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng agreed in Geneva to temporarily suspend most tariffs for 90 days. A White House official indicated that president Donald Trump and President Xi Jinping are expected to communicate this week.
jay Woods, chief global strategist at Freedom Capital Markets, believes a Trump-Xi conversation could provide needed clarity. “Conversations between Trump and Xi could prove critical to much needed clarity for the largest economies in the world,” Woods said. “If they get clarity, look for another leg higher in this market and talk of new all-time highs. If this back-and-forth goes on, then expect volatile markets to continue.”
Adding to the trade unease, President Trump announced a doubling of steel tariffs on the European Union to 50%. An EU spokesperson responded that this “undermines” negotiations and “adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic.”
Steel stocks saw meaningful gains following the tariff increase. Cleveland-Cliffs shares jumped 22%,while Steel Dynamics and Nucor increased by 10% and 9%,respectively. The stock market